Nick Warrell
United Kingdom
4m
๐๐Ÿ‘ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ“ ๐‘๐ž๐ฏ๐ข๐ž๐ฐ Q3 was a mixed quarter: July and August were a struggle, barely crossing the line, but September delivered a very strong performance. Notably, the portfolio finished positive in all three months โ€“ marking the second consecutive quarter with consistent monthly gains. Consistency remains a key focus and achieving it again is encouraging. The main drag this quarter was the DAX40, which recorded three negative months. I have reduced exposure to Germany, which now represents around 17% of the portfolio. Despite recent weakness, I continue to see strong potential following announcements of further support for German industries. Within the DAX40, there have been standout performers: Rheinmetall is up over 200% this year, and Deutsche Bank has risen more than 80%. The S&P500 reached new highs, even as headlines remained dominated by tariffs and interest rate developments. I was particularly pleased with the performance of my two new S&P500 additions, Seagate Technology ($STX.US (Seagate Technology PLC)) and Applovin ($APP (Applovin Corp)) , both of which have produced outstanding returns. Meanwhile, the FTSE100 also hit new records, with Rolls-Royce continuing to be our best-performing long-term holding, remaining the top performer in the portfolio after more than three years. ๐—ค๐˜‚๐—ฎ๐—ฟ๐˜๐—ฒ๐—ฟ๐—น๐˜† ๐—ฃ๐—ฒ๐—ฟ๐—ณ๐—ผ๐—ฟ๐—บ๐—ฎ๐—ป๐—ฐ๐—ฒ โ€ข Portfolio: +5.0% โ€ข S&P500: +7.8% โ€ข FTSE100: +5.7% โ€ข DAX40: โ€“3.2% While the portfolio lagged the S&P500 this quarter, risk management and diversification helped avoid sharp drawdowns. The focus on steady compounding continues to deliver consistent monthly growth. ๐—ค๐Ÿฐ ๐—ข๐˜‚๐˜๐—น๐—ผ๐—ผ๐—ธ ๐‘๐‘’๐‘ค ๐‘ƒ๐‘œ๐‘Ÿ๐‘ก๐‘“๐‘œ๐‘™๐‘–๐‘œ ๐ด๐‘‘๐‘‘๐‘–๐‘ก๐‘–๐‘œ๐‘›๐‘ : โ€ข S&P500: Lam Research ($LRCX (Lam Research Corp)), Western Digital ($WDC (Western Digital Corporation)), NRG Energy ($NRG (NRG Energy Inc)), Warner Bros ($WBD (Warner Bros Discovery Inc)) โ€ข FTSE100: Endeavour Mining ($EDV.L (Endeavour Mining plc)) โ€ข DAX40: Renk Group ($R3NK.DE (RENK Group AG)), Hochtief ($HOT.DE (HOCHTIEF AG)), Nordex ($NDX1.DE (Nordex)), Aurubis AG ($NDA.DE (Aurubis AG)) With the potential for another US interest rate cut and ongoing government support for German industries, the outlook for Q4 is positive. I will continue to focus on sectors with the strongest momentum while managing exposure carefully in areas facing headwinds.
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